5 Pence - Elizabeth II 2nd portrait, large type

The Falkland Islands issued its first decimal coinage in 1974, two years after decimalization in the United Kingdom — a deliberate lag that allowed the territory to exhaust existing pre-decimal stock. The series was produced at the Royal Mint and coincided with a period of growing Argentine territorial pressure that would culminate in the 1982 invasion and ten-week occupation. During the occupation, islanders largely hoarded British currency and local coinage rather than accept Argentine pesos imposed by the occupying force.

The large-type designation distinguishes KM#4.1 from the reduced KM#4.2 issue that followed in 1992, when the denomination was downsized in line with the UK's own 5p reduction of 1990.